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Suncor Energy Inc
Symbol SU
Shares Issued 1,285,837,925
Close 2024-05-23 C$ 55.15
Market Cap C$ 70,913,961,564
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Globe says Suncor's oil first to load at expanded TMX

2024-05-24 08:07 ET - In the News

The Globe and Mail reports in its Friday edition that an Aframax tanker is heading to China from British Columbia after becoming the first vessel to load heavy oil from the newly expanded Trans Mountain pipeline system. The Globe's Brent Jang writes that three hours before sunset Wednesday, the tanker named Dubai Angel, carrying diluted bitumen, began to depart from the Westridge Marine Terminal in Burnaby. Suncor chartered the tanker, which is transporting 550,000 barrels of Access Western Blend. With the $34-billion Trans Mountain expansion (TMX) project, which links crude and refined products from Alberta's oil sands to the B.C. coast, up and running since May 1, the capacity for tanker traffic is forecast to eventually increase sevenfold. During a call earlier this month, Suncor said it would be leasing tankers for loading oil from TMX. Suncor and the nine other oil companies on the TMX system have committed to take 80 per cent of the capacity. TMX will be able to handle more than 890,000 barrels a day of oil and refined products. The tanker started out at a slow pace of one knot per hour at Westridge and gradually increased its speed to eight knots per hour by the time it went under the Lions Gate Bridge.

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